Treasury Secretary Steven Mnuchin and Federal Reserve Chairman Jerome Powell said Thursday that the government’s top priorities in any new economic relief package should be to provide affordable loans to small businesses and further support for millions of Americans still unemployed.
Federal Reserve Chairman Jerome Powell warned Tuesday that the U.S. economy faces a deep downturn with “significant uncertainty” about the timing and strength of a recovery.
Just as the outlook for the global economy had been brightening in recent months, a new threat has suddenly emerged in the form of the viral outbreak in China.
The Federal Reserve is set to leave its benchmark interest rate unchanged Wednesday and will likely signal that it expects rates to remain low well into next year despite a robust job market.
In mid-2016, even with unemployment falling and the economy growing modestly, James Bullard, head of the St. Louis Federal Reserve Bank, was concerned.
Testifying to Congress this month, Federal Reserve Chair Jerome Powell sent a message seldom heard from his predecessors: That the Fed should consider the struggles of the lowest-income Americans in setting its interest-rate policies.
President Donald Trump summoned Federal Reserve Chairman Jerome Powell to the White House on Monday to discuss the economy and interest rates – issues on which Trump has repeatedly attacked the Fed.
Fed Chairman Jerome Powell said the Fed is likely to keep its benchmark short-term interest rate unchanged in the coming months, unless the economy slows enough to cause policymakers to make a “material reassessment” of their outlook.
The Federal Reserve cut its benchmark interest rate Wednesday for the third time this year to try to sustain the economic expansion in the face of global threats. But it hinted that it won’t likely cut again this year.
Economists and investors who are trying to get a fix on what the Federal Reserve may do in the months ahead have zeroed in on a single phrase in the statement it has issued after its most recent policy meetings.
The Federal Reserve finds itself in an unusually delicate spot as it considers how much more to try to stimulate an economy that’s still growing and adding jobs but also appears vulnerable.
Though unemployment is low, so are inflation and long-term borrowing rates. Normally, all that would be cause for celebration. But with President Donald Trump’s trade wars slowing growth and overseas economies struggling, Powell faces pressure to keep cutting rates to sustain the U.S. economic expansion.
A sharply divided Federal Reserve cut its benchmark interest rate Wednesday for a second time this year but declined to signal that further rate cuts are likely this year.
A former top Federal Reserve official suggested Tuesday that the Fed should avoid responding to the effects of President Donald Trump’s trade war with China and even consider how its actions might affect Trump’s re-election prospects – an argument that drew an unusual rejection from the Fed.
Interest rates on residential mortgages and consumer banking accounts will likely see little movement in response to the Federal Reserve’s decision Wednesday to cut its benchmark interest rate by 25 basis points.
There’s little dispute that the Federal Reserve this week will do something it hasn’t done since 2008, when the U.S. economy was gripped by the Great Recession: Cut its benchmark interest rate.
The Federal Reserve left its key interest rate unchanged Wednesday but signaled that it’s prepared to start cutting rates if needed to protect the U.S. economy from trade conflicts and other threats.
